The Canadian dollar can’t find its footing and is trading at nine-week low against the US dollar. In the North American session, USD/CAD is trading at 1.3792 at the time of writing, up 0.21%. The Canadian dollar has recorded eight straight losing sessions and is down 1.9% in October.
The week ended on a high note, as Canada’s employment growth jumped by 46.7...
ECONOMICS:CNIRYY
Inflation Data (September/2024)
source: National Bureau of Statistics of China
-China’s annual inflation rate stood at 0.4% in September 2024,
below market forecasts and August’s figure of 0.6%.
This was the 8th month of consumer inflation but was the lowest print since June,
highlighting the need for more policy support from Beijing to...
The September CPI exceeding market expectations has reduced the likelihood of a Fed’s jumbo cut, leading to a sharp increase in the dollar and Treasury yields. The probability of a 50bp cut is now at 0%, with a 10.4% chance of rates remaining unchanged. However, despite the dollar going north, gold prices are getting attention, approaching all-time highs, partly...
CME: Bitcoin Weekly Futures ( MIL:BFF )
On Thursday, October 10th, The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% on a seasonally adjusted basis, the same increase as in August and July. Over the last 12 months, the all-items index increased 2.4% before seasonal adjustment.
However, the...
Market Update - October 11th 2024
Takeaways
HBO documentary seeks to unveil Satoshi Nakamoto’s identity : HBO released a documentary, “Money Electric: The Bitcoin Mystery,” on Tuesday that suggests an early Bitcoin developer named Peter Todd invented the cryptocurrency.
Crypto.com has filed a lawsuit against the SEC after receiving a Wells notice,...
By analyzing the Gold chart on the 1-hour timeframe, we can see that after entering the desired demand zone, the price started to rise and is currently trading around $2,617. Considering that the US CPI data will be released today and I expect the actual value to be equal to or lower than the forecasted rate, I anticipate an upward movement in price to fill the...
ECONOMICS:USIRYY
US Inflation Rate Slows Less Than Expected
source: U.S. Bureau of Labor Statistics
-The annual inflation rate in the US slowed to 2.4% in September,
the lowest since February 2021 but surpassing market expectations of 2.3%.
Compared to the previous month, the CPI increased by 0.2%, the same as in August.
Meanwhile, annual core inflation...
This is the configuration of 4H Chart prior US CPI data result is announced.
We had slight downside due to last night/ yesterday's Head & Shoulders Effect.
Look at the latest Resistance and Support on the Fibs & the Descending Wedge.
Nasdaq Technical Analysis
Today’s inflation report is anticipated to drive significant market movements, particularly following unanimous agreement among Fed members to cut rates by 50 basis points.
A CPI release exceeding 2.3% is expected to support a bearish trend towards 20100. Conversely, a CPI below 2.3% would likely drive a bullish trend, targeting...
As Delta Air Lines (NYSE: NYSE:DAL ) prepares to report its Q3 earnings on October 10, 2024, investors are keenly watching for signs of a potential breakout. Despite facing industry-wide challenges, including rising costs and the looming impact of Hurricane Milton, Delta stock ( NYSE:DAL ) is showing signs of bullish momentum. With analysts predicting a 25%...
Pairs on Watch -
FX:EURNZD
FX:GBPNZD
FX:AUDUSD
A short overview of the instruments I am looking at for today, multi-timeframe analysis down to what I will be looking at for an entry. Enjoy!
TLT at its trend line support, peak volumes, macd looks ready to curl up, last 3 times rsi was this low we saw a considerable bounce, plus a good cpi report on Thursday should provide the catalyst needed to cause a bounce in the bond markets.
In 4H timeframe, gold is moving above the EMA200 and EMA50 in its ascending channel
Gold is still trading in its range box, and geopolitical tensions and the strengthening of the dollar have not led to its failure to rise or fall so far
As long as gold is in this range, the best strategy will be to buy at the bottom and sell at the top
breaking of the two drawn...
In 4H timeframe, gold is moving above the EMA200 and EMA50 in its ascending channel
Gold is still trading in its range box, and geopolitical tensions and the strengthening of the dollar have not led to its failure to rise or fall so far
As long as gold is in this range, the best strategy will be to buy at the bottom and sell at the top
breaking of the two drawn...
Last weeks high: $65,605.03
Last weeks low: $59,829.32
Midpoint: $62,717.17
After geo-political escalations causing panic in the markets at the beginning of last week, BTC has been spending the second half of the week trying to recover losses. The 1D 200EMA came in as support midweek to cap the sell-off, a steady climb back up flipping the 4H 200EMA back to...
ECONOMICS:EUIRYY (Eurozone Inflation Data; September/2024)
source: EUROSTAT
- Annual inflation rate in the Eurozone fell to 1.8% in September 2024, the lowest since April 2021, compared to 2.2% in August and forecasts of 1.9%, preliminary estimates showed.
Inflation is now below the ECB target of 2%.
Prices fell much more for energy (-6% vs -3%) and inflation...
ECONOMICS:GBIRYY CPI Data (August/2024)
'UK Inflation Rate Steady at 2.2%'
source: Office for National Statistics
- Annual inflation rate ( ECONOMICS:GBIRYY ) in the UK steadied at 2.2% in August 2024,
the same as in July, and in line with expectations.
The largest upward contribution came from air fares while the biggest downward contributions came from...
